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60. Savings Accounts vs Cash Funds
Manage episode 367081144 series 2892167
As Kiwis, we’re savers at heart. Generally speaking, we tend to rely on savings accounts to grow your short-term money. But are there investment funds that might also be suitable for getting you to the same goals?
*Cash Funds enter the room*
The funds that Cat reckons are getting a glow-up in 2023.
So what are these types of funds, why use them and how do they compare to savings accounts? We cover all this and more in this episode.
Specifically, we chat about:
- Differences in cash availability, fees, estimated returns and more, when looking at on-call accounts, notice-saver accounts, term deposits, and cash funds
- The relationship between the Official Cash Rate (OCR), interest rates and cash funds
- Whether conservative, cash and defensive funds are the same thing
- Why tax matters when deciding between cash funds & savings accounts
Check out the resources mentioned during the episode:
- Interest.co.nz - interest rate comparison
- FMA - asset allocation within funds
If you enjoyed today's show, we'd LOVE for you to rate & review it on Apple Podcasts and share your favourite episode with a friend.
SUBSCRIBE to It's No Secret, wherever you listen to podcasts and never miss an episode: Apple Podcasts - Spotify
Follow us for fun chat & financial tidbits on IG: @itsnosecretnz
Got questions? Get in touch: www.itsnosecret.co.nz
122 episodes
Manage episode 367081144 series 2892167
As Kiwis, we’re savers at heart. Generally speaking, we tend to rely on savings accounts to grow your short-term money. But are there investment funds that might also be suitable for getting you to the same goals?
*Cash Funds enter the room*
The funds that Cat reckons are getting a glow-up in 2023.
So what are these types of funds, why use them and how do they compare to savings accounts? We cover all this and more in this episode.
Specifically, we chat about:
- Differences in cash availability, fees, estimated returns and more, when looking at on-call accounts, notice-saver accounts, term deposits, and cash funds
- The relationship between the Official Cash Rate (OCR), interest rates and cash funds
- Whether conservative, cash and defensive funds are the same thing
- Why tax matters when deciding between cash funds & savings accounts
Check out the resources mentioned during the episode:
- Interest.co.nz - interest rate comparison
- FMA - asset allocation within funds
If you enjoyed today's show, we'd LOVE for you to rate & review it on Apple Podcasts and share your favourite episode with a friend.
SUBSCRIBE to It's No Secret, wherever you listen to podcasts and never miss an episode: Apple Podcasts - Spotify
Follow us for fun chat & financial tidbits on IG: @itsnosecretnz
Got questions? Get in touch: www.itsnosecret.co.nz
122 episodes
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